MINDBODY (MB) Upgraded by Jefferies Group to “Buy”
MINDBODY (NASDAQ:MB) was upgraded by equities researchers at Jefferies Group from a “hold” rating to a “buy” rating in a research note issued to investors on Monday, The Fly reports.
Several other analysts have also issued reports on the stock. BidaskClub lowered shares of MINDBODY from a “strong-buy” rating to a “buy” rating in a research report on Thursday, December 7th. DA Davidson began coverage on shares of MINDBODY in a research report on Wednesday, November 15th. They set a “buy” rating and a $42.00 target price for the company. UBS Group restated a “buy” rating and set a $40.00 target price (up from $34.00) on shares of MINDBODY in a research report on Thursday, November 9th. Zacks Investment Research lowered shares of MINDBODY from a “buy” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, KeyCorp restated a “buy” rating and set a $32.00 target price on shares of MINDBODY in a research report on Sunday, October 22nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $32.54.
Shares of MINDBODY (NASDAQ:MB) opened at $31.65 on Monday. MINDBODY has a 12 month low of $21.57 and a 12 month high of $36.25. The company has a market cap of $1,478.06, a P/E ratio of -83.29 and a beta of -0.31. The company has a quick ratio of 9.20, a current ratio of 9.20 and a debt-to-equity ratio of 0.06.
MINDBODY (NASDAQ:MB) last announced its earnings results on Thursday, October 26th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.05. The company had revenue of $46.60 million during the quarter, compared to analyst estimates of $45.59 million. MINDBODY had a negative net margin of 9.26% and a negative return on equity of 8.39%. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.09) earnings per share. research analysts anticipate that MINDBODY will post -0.31 EPS for the current fiscal year.
In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $31.16, for a total transaction of $552,747.24. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Luxor Capital Group, Lp bought 83,022 shares of the stock in a transaction dated Monday, October 16th. The stock was bought at an average cost of $27.95 per share, for a total transaction of $2,320,464.90. The disclosure for this purchase can be found here. Insiders have sold 175,087 shares of company stock worth $5,317,856 in the last ninety days. Insiders own 8.22% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA lifted its holdings in shares of MINDBODY by 2,171.3% in the second quarter. BNP Paribas Arbitrage SA now owns 4,111 shares of the technology company’s stock worth $112,000 after buying an additional 3,930 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of MINDBODY by 49.8% in the second quarter. Oppenheimer Asset Management Inc. now owns 5,046 shares of the technology company’s stock worth $137,000 after buying an additional 1,678 shares in the last quarter. Quantbot Technologies LP lifted its holdings in shares of MINDBODY by 75.5% in the second quarter. Quantbot Technologies LP now owns 6,902 shares of the technology company’s stock worth $187,000 after buying an additional 2,970 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of MINDBODY by 121.4% in the second quarter. Legal & General Group Plc now owns 9,340 shares of the technology company’s stock worth $254,000 after buying an additional 5,122 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new position in shares of MINDBODY in the third quarter worth $269,000. 90.14% of the stock is currently owned by hedge funds and other institutional investors.
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MINDBODY Company Profile
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with local business subscribers on its platform. The Company’s subscribers provide a range of wellness services to active consumers. Its integrated software and payments platform helps business owners in the wellness services industry run, market and build their businesses.
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